Fiserv, Inc., a Wisconsin-based provider of financial services technologies, said that Lincoln Financial Group will be the first client to use its new retirement income technology.
The Fiserv solution, called Retirement Income Illustrator, will “support an enhanced participant experience” in Lincoln’s Retirement Plan Services business and will be offered to Lincoln-affiliated advisors for use with their clients, said a Fiserv release.
Using Monte Carlo simulations, the Fiserv technology will help clients calculate and visualize the impact of potential savings and investment strategies on their cash flow in retirement.
Retirement Income Illustrator is designed to present retirement spending requirements and distribution alternatives in the context of withdrawal risk, longevity risk, survivor needs and healthcare risks, Fiserv said.
On its Unified Wealth Platform, Fiserv currently has more than 3.7 million accounts and over 1.3 million unified managed account sleeves. Fiserv said that its acquisitions of AdviceAmerica financial planning technology and CashEdge data aggregation capabilities allow it to deliver integrated, end-to-end solutions to wealth management firms.
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